They develop, they build, they finance, they property manage, they will have HAO, cleaning crew etc. etc. etc. so the subsidiary companies make money every step of the way.From investor perspective: The investor pay $15 K to reserve the right to purchase 25 multiplex over the year of next 5 years. 5 each year.

Having local family gave me a built-in support system, market familiarity, and the confidence to manage a property from a distance if needed.

Quote from @Noah Laker: I'm a local broker and investor, and manage 100+ Airbnb properties for clients.

I think it would be beneficial to set up your own management company to manage your assets.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

If I have a homeowner client that wants to play games, I'll gladly help transition them to another manager.

I have managed to get myself into a bit of a complex situation on my first deal and I'm looking for some advice. 

I would literally NEVER be able to manage them correctly. 

My top recommendation is to begin by contacting property management companies in each target area.

How would you suggest going about finding a deal and managing it out of state.